2015 has been dubbed the year of the "Goldilocks"
economy for New Zealand – not too hot, not too cold. Reserve
Bank of New Zealand (RBNZ) forecasts are for annual GDP
growth of 3% and falling unemployment supported by continued low
inflation (if not a period of temporary deflation triggered by
collapsing oil prices).
Domestic demand has maintained its momentum and, importantly,
appears to be sustainable in light of continued increases in the
economy's productive capacity. This lift has been attributed to
two factors – labour force growth (both in size and
participation rates) and increased business investment. The
investment share of real GDP has risen from 21% in 2011 to 24% in
Business and consumer confidence remains high relative to
historical norms. The latest NZIER Quarterly Survey of Business
Opinion recorded a 21% net optimism level, while the ANZ-Roy Morgan
Consumer Confidence Index was at 128.9 in January 2015, well above
the decade average of 119 and up from around 110 in 2012.
Most of the risks are international.
Deflation and ongoing economic malaise in Europe may lead to a
slowdown in demand for export products. Volatility in commodity
prices also presents some uncertainties. International dairy prices
fell 52% last year, although there are now early signs of a
recovery. New Zealand is also vulnerable to a slowing in the
Chinese economy, China now contending with Australia as our largest
trading partner. On the other side of the ledger, the RBNZ
estimates that the sharp drop in oil prices (down around 58% since
the end of June 2014) will boost GDP by around 1%.
The information in this article is for informative purposes
only and should not be relied on as legal advice. Please contact
Chapman Tripp for advice tailored to your situation.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
Lenders in New South Wales breathed a sigh of relief earlier this month when the Supreme Court ruled in Bank of Western Australia Ltd v. Primanzon  NSWSC 862 that two part-time commercial property investors could not claim relief under the Contracts Review Act 1980 (NSW) because the loans advanced to them were entered into in the course of a trade, business or profession carried on by them.
Joint Ventures are still a popular investment vehicle for many
foreign investors who do business in China. Sino-foreign joint
ventures can take the form of equity joint ventures or cooperative
The use of email in offices is a common characteristic of modern-day workplaces that has revolutionized communication—both intra-company as well as with outside clients. However, new technologies have also made it possible for employers to effortlessly monitor office email used by the employee, thereby violating the employee’s right to privacy
The glares of radiant brains have overshadowed the artificial bodily shines. An un-ending pursuit for excellence has stretched the dimensions of research to the limits in either direction. The modern world has witnessed successful amalgamation of bright minds and brighter machines making destinations unseen henceforth closer than ever before.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).